As a subdiscipline in business studies, entrepreneurship or the ?theory of enterprise= is concerned with the founding of new companies in response to business opportunities that have been identified. From an institutional and personal point of view, entrepreneurship is characterized by the fact that market opportunities are recognized and exploited in profitable ways. This includes a coordinated use of resources, as well as a calculated acceptance of risks in the founding of new companies. Entrepreneurship is thus concerned with three central processes: identifying market opportunities, developing business ideas/models, and implementing them (commercially and organizationally). The individual volumes in the ?Executive Education= series are designed in the form of tutorial notes and are intended to be used for independent learning of the modular subject-matter and for rapid revision of the relevant lectures.